Economy

New maps released by the U.S. Geological Survey reveal that seven million people are now living in areas at high risk for earthquakes. Not naturally occurring earthquakes but man-made – induced by oil and gas operations that pump wastewater deep underneath the ground.

“Once GDB spends its last remaining funds — and it is only a matter of time — many essential services in Puerto Rico may come to a halt,” the hedge funds said in their complaint. By then, they said, there would be nothing left for the bank’s creditors, who “will suffer substantial losses.”

While general fund revenue is down slightly over the past two years, the city's water and sewer fund could face a $35 million deficit. "These deficits have occurred from residents not using their water," Scott Kincaid said. "And you can't blame them. You can't drink it, so you really can't use it." Weaver said while the state is providing some water bill relief, residents still have to pay.

Not even the prospect of leaving Russia’s budget in the red until 2018 will force reductions in social or defense spending, the two items that dominate government expenditure, a Bloomberg survey of economists showed.

The cost of fixing the nation's roadways, on the other hand, can be measured in the billions. The Federal Highway Administration estimates it will cost $170 billion a year to make a dent in the backlog of bridge and highway overhaul projects.

Bad loans at Indian banks jumped by nearly a third to around 4 trillion rupees ($60.3 billion) late last year as the central bank drives a national clean-up of banks' balance sheets. That figure doubles to a record amount when restructured, or rolled over, loans are included - amounting to 11.3 percent of all loans, the government says.

South Korea's national debt rose by 53.5 trillion won ($46.7 billion) in 2015 from a year earlier as the government managed an expansionary fiscal policy to pump-prime the sluggish economy, the finance ministry said Tuesday.

Mangudya also hit out at business persons who don't bank their money, opting to keep daily takings at home as a recent order for tobacco farmers to be paid through banks failed to alleviate the liquidity crisis.

Australia's central bank warned that a rising currency could interfere with a transition to a broader based economy Tuesday, fueling expectations of interest rate cuts to come later in the year after the bank kept its powder dry at its latest policy meeting.

Subzero interest rates in Europe and Japan are “net positives” for the global economy, International Monetary Fund chief Christine Lagarde said Tuesday, though she warned that the side effects of unorthodox central-bank policies should be closely monitored.

The global outlook had weakened over the last six months, made worse by China’s slowdown, lower commodity prices and the prospect of financial tightening for many countries, she said. “Emerging markets have largely driven the recovery and the expectation was that the advanced economies would pick up the growth baton. That has not happened.”

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The unintended consequence of many central banks pushing negative interest rate policy is conjuring deflationary headwinds, stronger currencies, and slower growth — the exact opposite of what struggling economies need. But when monetary policy is the ...

As of the end of last year, the household liabilities reached 1,207 trillion won or so, breaking the 1,200 trillion won mark for the first time ever. Besides, South Korean enterprises' total debts hit 2,347 trillion won at the end of the first quarter ...

"A 17-year study into the effect of global warming on microbes – the tiny bacteria, fungi and other micro-organisms that determine soil health – reveals them to be far less adaptable to changing conditions than expected. It raises concerns the microbes will not be able to carry out essential functions, such as breaking down leaves and other organic matter in a process which converts them into nitrogen and other nutrients that plants need to grow."

He also stressed that the ECB's 25-member governing council isn't discussing helicopter money, a possible policy move touted by some economists as an answer to ultralow inflation. The policy gets its name from an essay by Milton Friedman in 1969 that ...

The yen's rally picked up momentum in April, undermining Kuroda's attempts to stoke inflation and thwarting his expectations that introducing negative interest rates in January would weaken the exchange rate. The currency's surge has put traders on ...

Analysts said there is “no quick fix in sight” for China's total debt which is estimated to be US$25 trillion (HK$194 trillion) and that slower economic growth means that growing debt will continue to exceed economic expansion. That's despite having ...

To address employee-benefit costs, Christie has called for a new round of benefits changes in the wake of a bipartisan reform law passed in 2011. He wants to freeze enrollment in the current pension system and force employees to accept less generous ...